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Two Bay Area Seniors Projects Land Financing
JLL Capital Markets arranged $16.275 million in acquisition financing for two land sites totaling 12.73 acres for the development of seniors housing communities in Livermore and Soquel.
A JLL Capital Markets debt advisory team of Bercut Smith, Lillian Roos Lauren Sackler and Ace Sudah worked on behalf of Calson Management, to secure the $10.5-million and $5.775-million one-year, fixed-rate loans through Barnett Capital Limited.
The first site is located at 1202 Concannon in Livermore. and totals nine acres. It will be developed into a 128-unit seniors housing community offering assisted living and memory care.
Situated on 3.73 acres at 5630 Soquel Dr. In Soquel, the second land site will be developed into an 82-unit senior housing community near Santa Cruz. The site is a fully entitled assisted living and memory care development that Calson Management took through the entitlement process while the site was under contract.
- ◦Financing
